How to Get LIC Revival Quotation — What It Means and What to Do

If your LIC policy has lapsed — meaning you missed premiums beyond the grace period — you cannot simply pay the overdue amount and continue. LIC requires you to obtain a revival quotation first. This document tells you the exact amount you need to pay to bring the policy back to life.

Here is what a revival quotation is, how to get one, what it includes, and what to do once you have it.

What Is a LIC Revival Quotation?

A revival quotation is an official statement from LIC that shows the total amount required to revive a lapsed policy on a specific date. It includes all overdue premiums plus the late fee (called revival charges or interest on arrears) calculated up to that date.

The quotation is date-specific — the amount changes daily as interest continues to accrue. A quotation issued today will not be valid next week. Once you receive it, you typically have a short window (usually 30 days) to act on it.

What Does a Revival Quotation Include?

The revival quotation breaks down into two components:

• Overdue premiums — the sum of all missed premium instalments since the lapse date
• Revival charges (late fee) — interest calculated at 9%–10% per annum on the overdue amount, from the date of each missed premium to the revival date

For example, if you missed 6 monthly premiums of ₹3,000 each and are reviving after 8 months from the first missed premium, your revival amount will be ₹18,000 in overdue premiums plus approximately ₹1,100–₹1,500 in late fee interest. The exact figure depends on LIC's current revival interest rate and the policy type.

How to Get Your LIC Revival Quotation

There are three ways to obtain a revival quotation:

Option 1 — LIC website (fastest for most policies)

• Go to licindia.in and log in to your customer portal
• Navigate to the policy details section and look for the revival option
• The portal shows the current revival amount for eligible policies
• Not all policy types show this online — older or complex policies may require a branch visit

Option 2 — LIC branch visit

• Visit the servicing branch for your policy (the branch where the policy is registered)
• Carry your policy document and photo ID
• Request a revival quotation — the branch issues it on the spot or within 1–2 working days
• This is the most reliable method for all policy types including money-back, endowment, and Jeevan plans

Option 3 — LIC agent

• If you have an assigned LIC agent, they can pull the revival quotation for your policy through their portal
• Useful if you cannot visit a branch, but depends on your agent being responsive

What Does "Not Eligible for Revival" Mean?

If you see a message like "span not eligible for revival since less than 3 dues pending" or a similar eligibility error, it means the policy has crossed LIC's revival window.

LIC allows revival within 5 years from the date of first unpaid premium. Beyond this window, the policy cannot be revived under the standard revival scheme. Depending on the policy type and how much premium has been paid, you may still be eligible for a paid-up value or surrender value — but the policy cannot be restored to full cover.

If you are seeing an eligibility error, visit your LIC branch to understand what options remain for that specific policy.

Late Fee Estimator

LIC charges revival interest at approximately 9%–10% per annum on overdue premiums. Use this as a rough guide — the exact figure will be in your official quotation.

• Overdue for 3 months: late fee ≈ 2.25%–2.5% of total overdue premium
• Overdue for 6 months: late fee ≈ 4.5%–5% of total overdue premium
• Overdue for 12 months: late fee ≈ 9%–10% of total overdue premium
• Overdue for 24 months: late fee ≈ 18%–20% of total overdue premium

For a policy with ₹5,000 monthly premium missed for 6 months (₹30,000 overdue), the late fee would be approximately ₹1,350–₹1,500. The total revival payment would be around ₹31,350–₹31,500.

What to Do Once You Have the Quotation

Once you receive the revival quotation, you need to act within the validity window (typically 30 days). To complete the revival:

• Pay the full revival amount — partial payment is not accepted for revival
• Submit a Declaration of Good Health (DGH) form if required — LIC usually requires this for policies lapsed for more than 6 months
• For larger lapsed amounts or longer lapse periods, LIC may require a medical examination
• Payment can be made at the branch, through the LIC website, or via your agent

Once payment is confirmed, LIC issues a revival receipt and the policy is reinstated from the original commencement date with full cover restored.

Should You Always Revive?

For most term and endowment policies, revival is almost always worth doing — especially if you have paid premiums for several years and the policy holds significant surrender value or sum assured. Walking away from a lapsed policy means losing both cover and the premiums already paid.

The exception is if the policy was poorly structured to begin with — high premium, low cover, or a product that no longer fits your situation. In that case, surrendering and redirecting the funds may make more sense than reviving. But this decision should be made with full information, not by default.

If you are unsure whether to revive, compare the total revival cost against the remaining benefit. For most standard LIC endowment and money-back policies, the math usually favours revival.

For the full picture on what happens when a LIC premium is missed and how grace periods work, read our guide on missed LIC premiums. To understand how to pay after a lapse, see how to pay LIC premium online.

The simplest way to avoid needing a revival quotation at all is to never miss a premium. Savings Reminder tracks your LIC premium due dates and reminds you before each one — so a missed payment stays a missed payment, not a lapsed policy.

Frequently Asked Questions